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Hedge Fund Managed by Star Opens to Institutions (WSJ)
A star mutual-fund manager is opening up his nascent hedge fund to institutional investors. Bruce Berkowitz, the 55-year-old president of Fairholme Capital Management LLC, launched the fund on Jan. 1 and it has grown to $140 million, largely with money from Mr. Berkowitz and his employees. He is now seeking outside institutional investors and hopes the fund will grow to $1 billion in assets in a year. His goal: Amplify his strategy as a mutual-fund manager of making long-term, concentrated bets. The strategy has been a big success, though he stumbled badly in 2011.

Is Apple Destined To Become The Next Microsoft? (TheStreet)Apple Inc. (NASDAQ:AAPL) share price has been on the rebound ever since Carl Icahn‘s now-infamous tweet reignited interest in the company. Still, the stock is down 30% from its all-time highs it hit last year, and there is a general consensus that the company’s days of rapid growth are behind it. A common question I hear asked is whether Apple is destined to follow in Microsoft Corporation (NASDAQ:MSFT) footsteps, suffering years of underperformance. Microsoft, like Apple, once held the distinction of being the most valuable company in American history. (And adjusted for inflation, Microsoft’s 1999 high-water mark still holds the title.) Today, Microsoft’s share price is still 40% below its dot-com-era peak… 13 years later. Ouch.

Has Disney Lost Its Magic? Hedge Fund Trading Lesson Featuring Brett Favre (Business2Community)The Walt Disney Company (NYSE:DIS) has been on a magic carpet ride and currently sits near its 10 year high. This fairytale of a stock has name brand recognition and box office appeal. You love it, your kids love it and guys secretly love it. But has Disney lost its magic? Today’s installment from the series, ‘Trading Lessons From A Hedge Fund Trader’ will focus on Brett Favre’s career and The Walt Disney company (NYSE:DIS) as per our reader’s request for research, available here on BehindWallStreet.com.

Hedge fund exits Unilens (BizJournals)
Unilens Vision paid $3.1 million to repurchase the shares of Baker Street Capital LP, a Los Angeles-based hedge fund that was the company’s largest outside shareholder. Vadim Perelman, founder and managing partner of Baker Street, also resigned from the Unilens board of directors, effective Oct. 4. Perelman had been an investor in Unilens since 2010, and Baker Street controlled about 26 percent of the company’s total shares outstanding, a statement said.

Hedge fund legend Soros insists on Greek debt haircut (DW)
US large-scale investor George Soros (pictured) told Germany’s “Spiegel online” business editors that another international debt haircut for crisis-stricken Greece was inevitable. “Everyone knows the country will never be able to pay back its debt,” Soros insisted. He said his talks with business partners had convinced him that private investors would be willing to return to Greece once the repayment of public debt was off the table. This, he argued, would allow the country to recover fast. But it’s been the outgoing German government in particular which has refused to even talk about another write-down on Greek debt.

Ahead of the curve? Paulson takes stakes in Greek banks (InvestmentWeek)
Paulson (pictured) and other hedge fund managers have bought in to the Greek banking sector and are pushing for a faster reprivatisation of some of its leading players, according to reports. The high-profile investor told the Financial Times he has “substantial” stakes in Piraeus and Alpha, both of which are 80% owned by the government following a fresh round of recapitalisation earlier this year.